10/12/2006

Home Price Forecast

Every day predictions can be found somewhere in the media as to where future prices will end up. Some local prospective buyers are expecting to see a 20 percent price drop in the Long Beach area in the next few months. That we are in a slower market, and a softening market, is more obvious. That predictions do not always come true ... we know about that, too. However, the Long Beach/Los Angeles area market, based on current projections, doesn't show that kind of a price drop, just check the list of cities and scroll down to Los Angeles to see an approximate 5 percent drop over a period from 2006 to the end of 2008. Another prediction is that interest rates for now and in the next several months will not be increased by the Federal Reserve. That is as good a prediction as any, and should be very helpful to those buyers thinking about making a move soon. See a property search from the local MLS here.

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